DLS flags Preakness deficiency and recommends shrinking major events fund as stadium authority defends investments

Summary

DLS questioned a $1.5 million operating deficiency for Preakness 150 events, reported Built to Learn bond capacity and rising interest costs, and recommended reducing the Major Sports and Events Entertainment Fund; the Maryland Stadium Authority and sports stakeholders defended the grants’ economic value.

A Department of Legislative Services (DLS) analysis presented to the House Appropriations Education and Economic Development Subcommittee recommended against an operating deficiency for a Preakness‑related appropriation and proposed reductions to the Major Sports and Events Entertainment Fund, while the Maryland Stadium Authority (MSA) and sports industry witnesses defended the state’s event investments as economic development.

Patrick Frank, DLS budget analyst, told the subcommittee there is a $1,500,000 deficiency in the Maryland Stadium Authority’s proposed budget to support a Preakness 150th anniversary initiative. Frank cautioned the committee that capital funds already appropriated for Pimlico improvements cannot be redirected without separate legislation and said DLS does “point out that there’s quite a lot of money available for this.” He also summarized the agency’s core functions—operations of Camden Yards and other venues, construction and financing for school projects and other public works, and administration of event grants.

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DLS flags Preakness deficiency and recommends shrinking major events fund as stadium authority defends investments

Summary

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